718 6th StMerritt IslandFL32953
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Merritt Island at 718 6th St, Merritt Island, FL, 32953 priced at $339,900 converts $1,753/mo rent into after a $1,664/mo obligation. Total monthly income equals $1,753/mo. Return on cash invested prints 14.55% in year one, and rental yield reads 6.19% against a $339,900 entry. Equity gained on principal adds $2,193/yr, while 5% annual appreciation compiles into $93,908 by year five. Five-year ROI reaches 74.75% and total cumulative return in cash sums $84,227. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,753/mo property income covering a $1,664/mo payment, not borrower’s personal income.
Single Family
Built in 1959
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32953, Merritt Island, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,436 (100%) |
| Owner Occupied HU | 7,922 (69.3%) |
| Renter Occupied HU | 2,764 (24.2%) |
| Vacant Housing Units | 750 ( 6.6%) |
| Median Home Value | $483,378 |
| Average Home Value | $547,706 |
Housing Distribution
Address Breakdown
Residential
10,935
Single Family
9,935
Multi-Family
1,000
Businesses
793
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Listed by: Chris Dena Michocki • BHHS Florida Realty
Mls Name: Space Coast AOR
Mls ID: #1040011
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.